The panic index has soared, CZ says: it's time to accumulate coins now.

The derivatives leverage has been cleaned up, and there is a phase of capitulation on-chain. CZ is now saying "buy and hold"—historical data shows that in this environment, patiently accumulating coins is more cost-effective than frequent trading.

What exactly is CZ saying with "buy and hold"?

CZ's timing for saying "buy and hold" is not random. The panic and greed index is only 26, indicating extreme fear; several reliable accounts are also amplifying this signal. Simply put: less fussing around, more accumulation of coins. BTC is currently around $88.5k, the derivatives leverage has already been passively cleaned up, and a phase of capitulation has appeared on-chain—this is a typical reverse layout window.

Where are we now?

BTC is near $88.5k, touching the support level at the lower band of the 4-hour Bollinger Bands. If it continues to go down, Chris Burniske has listed several price levels where there may be buying interest (not predictions, but places where liquidity may gather):

Why price levels are important:

$80k—low point in November 2025

$74k—bottom during tariff panic in April 2025

$70k—historical high in 2021

$58k—200-day moving average

$50k—range where media starts saying "Bitcoin is dead".